20 Sep

Shanghai Confers Ascott Executive With Prestigious Magnolia Award

Shanghai September 20, 2004 The Shanghai Municipal Government today presented Ascott’s senior vice president (operations) Mr Yip Hoong Mun with the prestigious Magnolia Award for his contributions to the city.

Named after Shanghai’s official flower, the Magnolia Award honours foreigners living in the city who contribute significantly to Shanghai’s economic performance, international relations, business environment, management standards and community development. This year, 47 people, including two Singaporeans, received the award.

Mr Yip was Ascott’s managing director for China until his promotion last month. Under his leadership, Ascott China achieved Number One position in China’s Top 100 Serviced Residences ranking this year for the management of its eight serviced residences in the country.

Ascott's Number One position in China's Top 100 Serviced Residences ranking is based on evaluations of the management, branding and marketing of its residences by real estate experts and Internet votes. The ranking is organised by the China Commercial and Residential Property Association, Qing Hua University Real Estate Research Institute and World Executive Institute Weekly magazine.

Mr Cameron Ong, Ascott’s chief executive officer, said: "We are delighted at the recognition of our China MD, and with it, Ascott’s role in the development of Shanghai’s serviced residence industry. Since his posting in Shanghai in 1999, Hoong Mun has led Ascott’s expansion in China to become the country’s largest serviced residence operator today. During the period, Ascott introduced many services, product and branding initiatives that set new industry benchmarks in China."

Mr Yip said: "The award recognises the team’s efforts over the years to contribute to Shanghai’s attractiveness as an international city to live and work in, and our reaching out to the local community."

He added that earlier this month, Ascott launched the "We Care For Our Children" charity programme with World Vision China to give children in rural areas immunisation, medical supplies and educational facilities. During the SARS period last year, Ascott participated in the donation of two thermal scanners to China, and shared with local companies, best practices gleaned from its experience with virus prevention measures in Singapore.

Mr Yip has a Bachelor of Civil Engineering degree with first class honours from the National University of Singapore, and a Master’s degree in Business Administration from Stanford University, US. He also attended a senior management programme at Fudan University, Shanghai.

In November last year, Mr Ong was appointed foreign professional consultant to the Beijing International Investment Promotion Council to advise on the development of the city’s tourism and hospitality industries.

The Ascott Group is a leading international serviced residence company with 13,800 serviced residence units in 39 cities in 16 countries in Europe and Asia Pacific. It is the serviced residence arm of CapitaLand Limited, one of Asia’s largest listed property companies.

In Shanghai, Ascott has three serviced residences - the 248-unit The Ascott Pudong, 334-unit Somerset Grand Shanghai, and 167-unit Somerset Xu Hui. In Beijing, its three residences comprise the 272-unit The Ascott Beijing, 221-unit Somerset Grand Fortune Garden and 100-unit Luxury Serviced Residence. Ascott also has the 106-unit Somerset Harbour Court in Dalian and 169-unit Somerset Olympic Tower in Tianjin.



Ascott’s Serviced Residences In China 

In Shanghai
The Ascott Pudong -- 248 units, Pudong district
In the heart of Shanghai’s premier business district, the luxury-tier The Ascott Pudong boasts spectacular views of the Huangpu River. It offers one to four-bedroom designer suites and elegant penthouses with facilities such as a business centre, indoor heated pool, gym, sauna, indoor tennis court and residents' lounge.

Somerset Grand Shanghai -- 334 units, Luwan district
Located along Huai Hai Zhong Road, the upper-tier serviced residence is in the heart of Shanghai's main business, shopping and dining belt. Facilities include an indoor heated swimming pool and an international kindergarten. Units range from one to three-bedroom suites.

Somerset Xu Hui - 167 units, Xuhui district
Situated in the Xuhui residential estate, the upper-tier serviced residence is close to shopping and entertainment facilities in the Huai Hai Zhong Road and Xujiahui prime business districts. Facilities include a gym, indoor heated pool, lounge and tennis court. It offers spacious one to three-bedroom suites.

In Beijing
The Ascott Beijing -- 272 units, Chaoyang district
The luxury-tier residence in the heart of the city's CBD is close to the China World Trade Centre. It boasts designer fittings and extensive facilities including an indoor glass-roofed pool, fully equipped fitness centre, and business centre. Units range from elegant one-bedroom suites to four-bedroom penthouses.

Somerset Grand Fortune Garden -- 221 units, Chaoyang district
Located in the business area of Chaoyang district, the upper-tier residence is near international schools, embassies and entertainment centres. Facilities include a gym, indoor heated pool and residents' lounge. Units range from one to four-bedroom suites, with private balconies and scenic city views.

Luxury Serviced Residence - 100 units, Chaoyang district
Located in Beijing's prime Chaoyang residential district, the mid-tier residence is near Scitech Plaza and Friendship Store shopping malls, Silk Market, Tiananmen Square, Forbidden City and Jianguomen subway station. Facilities include a gym, sauna, business centre, and lounge. Units range from one to four-bedroom apartments.

In Dalian
Somerset Harbour Court - 106 units, Zhongshan district
Part of the prime Dalian Asia Pacific Finance Centre in the city's CBD, the upper-tier residence is a stroll from Dalian harbour's passenger station and five-minutes’ drive from the railway station. Facilities include a gym, business centre and lounge. Units comprise one and two-bedroom suites.

In Tianjin
Somerset Olympic Tower - 169 units, Heping district
In the heart of Tianjin's prime upmarket shopping area and residential district, the upper-tier Somerset Olympic Tower is close to international schools and the Tianjin railway station. Facilities include an indoor heated pool, gym, and rooftop garden. Units range from one-bedroom suites to four-bedroom penthouses.


About The Ascott Group

The Ascott Group is a leading international serviced residence company with 13,800 serviced residence units in the key cities of Europe and Asia Pacific.

Ascott's global presence spans 39 cities in 16 countries. These include London, Paris, Brussels, Berlin and Barcelona in Europe; Singapore, Bangkok, Hanoi, Kuala Lumpur, Tokyo, Shanghai and Beijing in Asia; Sydney, Melbourne and Auckland in Australia and New Zealand; and Dubai in the Gulf region.

Through its marketing alliance with Equity Corporate Housing, the group also offers upper-tier serviced apartments throughout the US. Headquartered in Singapore, The Ascott Group pioneered the Asia Pacific’s first branded luxury serviced residence in 1984. Today, it boasts a 20-year industry track record and serviced residence brands that enjoy recognition worldwide.

The group’s flagship The Ascott luxury serviced residence brand projects an elegant lifestyle appealing to top executives. Its Somerset upper-tier brand offers stylish, contemporary living for senior to upper management executives. The mid-tier Citadines brand provides corporate executives with comfortable city residences.

Recent awards the group has clinched include the Number One position in the 2004 China’s Top 100 Serviced Residences ranking for its eight properties in China, 2004 Best Service in Serviced Apartments awards in Hanoi and Ho Chi Minh City, and Best Annual Report and Best Operating and Financial Review awards at Singapore’s 2004 Annual Report Awards.

Listed on the mainboard of the Singapore Exchange, Ascott is the serviced residence arm of CapitaLand Limited, one of Asia’s largest listed property companies. Headquartered in Singapore, CapitaLand’s core businesses in property, hospitality, property services and real estate financial services are focused in gateway cities in Asia, Australia and Europe. The company's hospitality businesses in hotels and serviced residences span more than 60 cities around the world.

For reservations on Ascott properties, call Central Reservations on (65) 6272-7272 or visit www.the-ascott.com.

Ida Lim, VP, Investor Relations & Corporate Communications
Tel: (65) 6586 7230 Hp: (65) 9628 8339 Email: ida.lim@the-ascott.com

Lilian Goh, Manager
Tel: (65) 6586 7231 Hp: (65) 9795 5225 Email: lilian.goh@the-ascott.com